Enfusion (NYSE:ENFN) Shares Gap Down Following Insider Selling

Enfusion, Inc. (NYSE:ENFN)’s stock price gapped down prior to trading on Friday following insider selling activity. The stock had previously closed at $10.69, but opened at $10.47. Enfusion shares last traded at $10.40, with a volume of 32,964 shares traded.

Specifically, CFO Bradley Herring sold 24,443 shares of Enfusion stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $10.61, for a total value of $259,340.23. Following the completion of the transaction, the chief financial officer now directly owns 270,503 shares of the company’s stock, valued at approximately $2,870,036.83. The trade was a 8.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler upped their price target on Enfusion from $10.00 to $11.50 and gave the company a “neutral” rating in a report on Monday, December 23rd. Stifel Nicolaus lifted their price target on shares of Enfusion from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.25.

Enfusion Price Performance

The stock has a market cap of $1.30 billion, a P/E ratio of 252.31, a price-to-earnings-growth ratio of 3.98 and a beta of 0.97. The stock’s 50-day moving average is $9.87 and its two-hundred day moving average is $9.07.

Institutional Investors Weigh In On Enfusion

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Enfusion by 7.3% in the third quarter. Geode Capital Management LLC now owns 1,029,366 shares of the company’s stock valued at $9,770,000 after acquiring an additional 70,367 shares during the period. Wellington Management Group LLP increased its position in Enfusion by 6.7% during the 3rd quarter. Wellington Management Group LLP now owns 976,296 shares of the company’s stock valued at $9,265,000 after purchasing an additional 61,032 shares during the period. State Street Corp raised its stake in Enfusion by 2.3% in the third quarter. State Street Corp now owns 952,895 shares of the company’s stock worth $9,043,000 after buying an additional 21,729 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of Enfusion by 25.4% in the 3rd quarter. Impax Asset Management Group plc now owns 676,948 shares of the company’s stock worth $6,424,000 after acquiring an additional 136,948 shares in the last quarter. Finally, Scalar Gauge Management LLC raised its holdings in Enfusion by 21.8% in the second quarter. Scalar Gauge Management LLC now owns 613,513 shares of the company’s stock worth $5,227,000 after purchasing an additional 110,000 shares in the last quarter. 81.05% of the stock is owned by institutional investors.

Enfusion Company Profile

Enfusion, Inc provides software-as-a-service solutions for investment management industry in the United States, Europe, the Middle East, Africa, and the Asia Pacific. The company provides Portfolio Management System, which generates a real-time investment book of record that consists of valuation and risk tools, which allows users to analyze aggregated or decomposed portfolio data for chief investment officers (CIOs) and portfolio managers; and Order and Execution Management System that enables portfolio managers, traders, compliance teams, and analysts to electronically communicate trade orders for a variety of asset classes, manage trade orders, and systemically enforce trading regulations and internal guidelines.